“Apple after the stock’s price target was slashed to $425 from $450 at Jeffries. The iPhone maker’s 2014 earnings-per-share estimate was also cut to $37.95 from $38.78,” Sue Chang and Saumya Vaishampayan report for MarketWatch.
“‘Apple had two tough choices with the 5C pricing and the 5S sensor and opted for the higher price/lower market share option for both,’ said Peter Misek at Jefferies said in a report,” Chang and Vaishampayan report. “Misek added that supply constraints of fingerprint sensors for the 5S forced Apple to cut back on production in the coming months. ‘Our checks indicate that the fingerprint sensor yields have been terrible and are the likely culprit for the [second-half] build plan cuts,’ he said.”
MacDailyNews Take: Yeah, his “checks.” Pfft.
Chang and Vaishampayan report, “The analyst notes that Apple’s calendar fourth-quarter production plan for iPhones was scaled back to a range of 48 million to 60 million units versus 55 million to 60 million, due mostly to the 5S.”
Read more in the full article here.
MacDailyNews Take: Not only is Peter Misek a prognosticator, predicting “lackluster” sales of Apple’s iPhone 5C before it was even unveiled, but he’s also the genius who once said:
“Microsoft, with Windows Mobile/ActiveSync, Nokia with Intellisync, and Motorola with Good Technology have all fared poorly in the enterprise. We have no reason to expect otherwise from Apple.” – Peter Misek, explaining why Apple’s newly-released, paradigm-shifting iPhone OS SDK – which allowed third-party developers to create native applications for iPhone, ushering in the App revolution and the whole new App economy – would be “neutral” to BlackBerry-maker Research in Motion (currently gasping for air and up for sale), March 07, 2008